Gas prices back on the rise, cost of diesel at ‘highest level ever seen’

Published 7:06 am Monday, May 2, 2022

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Average gasoline prices in North Carolina have risen 12.8 cents per gallon in the last week, averaging $3.93 per gallon Monday, May 2, 2022, according to GasBuddy’s survey of 6,092 stations in North Carolina. Prices in North Carolina are 7.9 cents per gallon lower than a month ago and stand $1.28 per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in North Carolina was priced at $2.99 per gallon Sunday, while the most expensive was $4.74 per gallon, a difference of $1.75 per gallon.

The national average price of gasoline has risen 6.9 cents per gallon in the last week, averaging $4.17 per gallon Monday. The national average is down 1 cent per gallon from a month ago and stands $1.29 per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

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Historical gasoline prices in North Carolina and the national average going back 10 years:
May 2, 2021: $2.65 per gallon (U.S. Average: $2.89 per gallon)
May 2, 2020: $1.61 per gallon (U.S. Average: $1.76 per gallon)
May 2, 2019: $2.71 per gallon (U.S. Average: $2.90 per gallon)
May 2, 2018: $2.68 per gallon (U.S. Average: $2.82 per gallon)
May 2, 2017: $2.25 per gallon (U.S. Average: $2.37 per gallon)
May 2, 2016: $2.16 per gallon (U.S. Average: $2.22 per gallon)
May 2, 2015: $2.45 per gallon (U.S. Average: $2.61 per gallon)
May 2, 2014: $3.65 per gallon (U.S. Average: $3.68 per gallon)
May 2, 2013: $3.42 per gallon (U.S. Average: $3.53 per gallon)
May 2, 2012: $3.76 per gallon (U.S. Average: $3.80 per gallon)

Selected areas around the state and their current gas prices:
Fayetteville – $3.89 per gallon, up 14.0 cents per gallon from last week’s $3.75 per gallon.
Charlotte – $3.93 per gallon, up 6.8 cents per gallon from last week’s $3.86 per gallon.
Greensboro – $3.95 per gallon, up 19.5 cents per gallon from last week’s $3.75 per gallon.

“Gasoline prices have continued their rally in the last week with oil prices sustaining higher levels, but the real story has been diesel fuel, which has skyrocketed to its highest level ever seen. Diesel is now $1 per gallon or more in many areas compared to gasoline,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The meteoric rise in diesel prices is likely to continue for the first half of the week at least, while gasoline prices could continue to see a slow but steady rise. For now, the rising cost of diesel will surely be felt in the grocery store, hardware store or on your next flight as jet fuel prices accelerate, leading to a continued rise in inflation likely to ripple across the economy.”

GasBuddy data is accessible at http://prices.GasBuddy.com.

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